Consolidated Edison Inc (NYSE:ED) Shares Bought by KBC Group NV

KBC Group NV increased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 7.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,655 shares of the utilities provider’s stock after purchasing an additional 3,560 shares during the quarter. KBC Group NV’s holdings in Consolidated Edison were worth $5,491,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Alpine Bank Wealth Management purchased a new stake in Consolidated Edison in the 1st quarter valued at $32,000. Fairway Wealth LLC purchased a new position in shares of Consolidated Edison in the 4th quarter valued at about $36,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at approximately $35,000. OFI Invest Asset Management purchased a new stake in Consolidated Edison during the fourth quarter worth $35,000. Finally, Garde Capital Inc. purchased a new stake in Consolidated Edison in the 1st quarter valued at approximately $49,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE ED opened at $99.89 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The firm has a market capitalization of $35.99 billion, a P/E ratio of 18.46, a P/E/G ratio of 3.22 and a beta of 0.26. The business’s 50-day simple moving average is $104.14 and its 200-day simple moving average is $100.84.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the firm earned $2.15 earnings per share. Equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.40%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.85%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ED shares. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Citigroup raised their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Guggenheim lifted their price objective on Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Barclays increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a research report on Monday, May 5th. Finally, KeyCorp cut Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a report on Wednesday, May 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $105.27.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.